Cedar Fair (NYSE:FUN) Now Covered by StockNews.com

Equities researchers at StockNews.com assumed coverage on shares of Cedar Fair (NYSE:FUN) in a research note issued on Tuesday. The brokerage set a “buy” rating on the stock.

FUN has been the topic of a number of other reports. Truist Financial cut their target price on shares of Cedar Fair from $48.00 to $45.00 and set a “buy” rating on the stock in a research note on Friday, May 3rd. KeyCorp lifted their price objective on shares of Cedar Fair from $49.00 to $52.00 and gave the stock an “overweight” rating in a research report on Friday, February 16th. Mizuho initiated coverage on shares of Cedar Fair in a research note on Tuesday, March 26th. They set a “buy” rating and a $56.00 target price for the company. Stifel Nicolaus raised their price target on Cedar Fair from $49.00 to $52.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Finally, Oppenheimer assumed coverage on Cedar Fair in a research report on Thursday, February 8th. They set an “outperform” rating and a $49.00 price objective for the company. Eleven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Cedar Fair has an average rating of “Buy” and a consensus target price of $50.00.

Cedar Fair Stock Up 1.5 %

Shares of FUN opened at $41.07 on Tuesday. Cedar Fair has a fifty-two week low of $34.04 and a fifty-two week high of $45.39. The company has a market cap of $2.10 billion, a P/E ratio of 16.76 and a beta of 1.42. The firm’s 50 day moving average price is $40.72 and its 200 day moving average price is $39.61.

Cedar Fair (NYSE:FUN) last announced its quarterly earnings data on Thursday, February 15th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.08). Cedar Fair had a net margin of 6.96% and a negative return on equity of 21.06%. The company had revenue of $371.12 million during the quarter, compared to analyst estimates of $365.13 million. Research analysts forecast that Cedar Fair will post 3.23 earnings per share for the current year.

Hedge Funds Weigh In On Cedar Fair

Institutional investors have recently modified their holdings of the business. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors grew its position in Cedar Fair by 121.9% during the 1st quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 24,268 shares of the company’s stock worth $1,017,000 after purchasing an additional 13,332 shares during the last quarter. Stock Yards Bank & Trust Co. purchased a new position in shares of Cedar Fair during the first quarter worth about $257,000. PNC Financial Services Group Inc. increased its position in Cedar Fair by 10.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,300 shares of the company’s stock valued at $131,000 after acquiring an additional 300 shares during the period. Goldman Sachs Group Inc. raised its stake in Cedar Fair by 15.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 4,008,868 shares of the company’s stock valued at $159,553,000 after acquiring an additional 539,352 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in Cedar Fair by 201.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 841 shares of the company’s stock worth $33,000 after acquiring an additional 562 shares during the period. 64.65% of the stock is owned by institutional investors and hedge funds.

About Cedar Fair

Cedar Fair, L.P. owns and operates amusement and water parks, as well as complementary resort facilities. Its amusement parks include Cedar Point located on Lake Erie between Cleveland and Toledo in Sandusky, Ohio; Knott's Berry Farm near Los Angeles, California; Canada's Wonderland near Toronto, Ontario; Kings Island near Cincinnati, Ohio; Carowinds in Charlotte, North Carolina; Kings Dominion situated near Richmond, Virginia; California's Great America located in Santa Clara, California; Dorney Park in Pennsylvania; Worlds of Fun located in Kansas City, Missouri; Valleyfair situated near Minneapolis/St.